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woolldog

(8,791 posts) Tue Jan 31, 2012, 09:34 PM Jan 2012

Why is it assumed the Bush era tax cuts will be extended in December? [View all]

Was just reading an article on Yahoo! and came across this line:

"The Congressional Budget Office report also says that annual deficits will remain in the $1 trillion range for the next several years if Bush-era tax cuts slated to expire in December are extended, as commonly assumed."

http://news.yahoo.com/us-budget-deficit-dip-1-1t-152358458.html

Why?

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7 replies

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Highlight:

Why is it assumed the Bush era tax cuts will be extended in December? [View all] woolldog Jan 2012 OP

'cause if they raise taxes, that will make the recession worse. RC Jan 2012 #1

I hate that woolldog Jan 2012 #4

+1000 +++ n/t RKP5637 Jan 2012 #7

It will be all or nothing. If the tax-cuts for middle class expire doc03 Jan 2012 #2

just did my taxes handmade34 Jan 2012 #3

I am retired and paid 18.6% in taxes this year n/t doc03 Jan 2012 #5

it is commonly assumed that 80% of them will be retained hfojvt Jan 2012 #6